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Fred Cole

An editor at FOMOdrive

  • Jul 28, 2023
  • 2 min read

Fundstrat gave a shocking forecast for the price of Bitcoin

Bitcoin gold coins BTC and rising price chart

It is possible that the price of Bitcoin could increase by a factor of six before April 2024.

Glassnode observed "disposal" of Bitcoin by whales.

The price of Dogecoin rose by 14% following the alteration of Twitter's logo.

The XRP network was the first to launch a stablecoin.

Binance is attempting to have the CFTC lawsuit rescinded.

Fundstrat believes that Bitcoin could reach a price of $180,000 before its April 2024 halving. This could be due to the potential emergence of a Bitcoin spot ETF, which could draw in new investors and significantly boost the demand for BTC.

Glassnode has recorded "unloading" among Bitcoin whales (those who hold 1000 BTC or more). Since May 30, the total amount of Bitcoin held by whales (not including exchange wallets) has dropped by 255,000 BTC. This monthly rate of decline (148,000 BTC) is the highest ever recorded.

Binance is preparing to file two motions to dismiss the Commodity Futures Trading Commission (CFTC) lawsuit against them, which was filed in federal court in Chicago. Changpeng Zhao is leading the effort to have the lawsuit dismissed.

The European Banking Authority (EBA) has proposed new rules that would require additional regulation for issuers of stablecoins whose reserves consist of derivatives or covered bonds. If the tokens they issue are deemed to be "significant", these firms would be subject to increased capital requirements.

Timothy Massad, the ex-Chairman of the Commodity Futures Trading Commission (CFTC), suggested that the US payments industry should be improved by concentrating on stablecoins.

Bitboy Crypto, a YouTube blogger, expressed his optimism about XRP as it is making its way back to crypto exchanges.

Ducati, an Italian motorcycle manufacturer, is set to launch a series of NFT tokens built on the XRP Ledger from Ripple Labs. Additionally, the first stablecoin PSC of Palau has been issued on the XRP network.

Since the start of the week, Dogecoin has seen a rise of more than 14%. This is due to the Twitter logo change to "X" which has caused an increase in network activity and the value of the altcoin. Elon Musk has also promised to make Twitter a financial hub, which could be a contributing factor to the surge in Dogecoin's value.

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